Schneiderman was singularly responsible for the Obama Administration’ success in executing what has not been sufficiently well recognized as a second bailout to banks, in the form of the 2012 National Mortgage Settlement in which 49 states also participated. We called the “get out of liability for almost free card” for banks otherwise known as the National Mortgage Settlement. Federal and state officials had massive leverage over bank servicers to force them to do mortgage modifications for borrowers who still had some level of income. It would not only have been better for homeowners and communities, but it would have greatly reduced investor losses.

As Attorney General, at least, he was always more about posing than actual results.